Calysta Energy, a Menlo Park, CA-based company that uses natural gas as a feedstock to create essential building blocks for high value sustainable fuels and chemicals, completed a $3m Series A financing round.
The round was led by Pangaea Ventures Ltd., with participation from Calysta’s current officers and directors. In conjunction with the funding, Purnesh Seegopaul, Ph.D., General Partner at Pangaea, join the Board of Directors.
Calysta intends to use the funds to advance development of biological routes to high value industrial chemicals and fuels based on methane, an advantaged feedstock from natural gas.
Led by Alan Shaw, Ph.D., Chairman, President and CEO, Calysta is focusing on development of methane as a new biological feedstock for scalable biofuels and chemicals production. The technology allows conversion of energy resources into high value chemicals and transportation fuels with cost and performance advantages over current processes.